Royal Caribbean Cruises increased its quarterly dividends to shareholders by 20 percent on Wednesday.

The Miami-based cruise line (NYSE: RCL) announced that it would pay out $0.12 per share on Oct. 9 to shareholders on the record by Sept. 25.

Dividends from the cruise line sat at $0.10 since 2008 after it dropped from its highest $0.15.

“We have consistently communicated our desire to balance rational growth, leverage reduction and shareholder return improvement. I think today's actions are further evidence that these goals can coexist harmoniously,” said Richard D. Fain, Royal Caribbean’s chairman and chief executive officer.

Royal Caribbean teamed up with Mattel to offer what it calls the “Barbie experience” to target young girls. The cruise line said it will offer the premium cruise package on 22 ships starting in January.

The company’s shares closed at $29.61 Wednesday, falling 18 cents.

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